Fortune Minerals (TSE:FT) Stock Price Up 13% – Here’s What Happened

Fortune Minerals Limited (TSE:FT) shares shot up 13% during trading on Tuesday. The company traded as high as C$0.14 and last traded at C$0.13. Approximately 1,080,407 shares changed hands during mid-day trading, an increase of 45% from the average session volume of 744,471 shares. The stock had previously closed at C$0.12.

Fortune Minerals Stock Down 2.0%

The company’s 50 day simple moving average is C$0.14 and its 200-day simple moving average is C$0.14. The firm has a market cap of C$82.09 million, a P/E ratio of -12.25 and a beta of -0.92. The company has a current ratio of 0.21, a quick ratio of 0.04 and a debt-to-equity ratio of -230.60.

Fortune Minerals (TSE:FT) last announced its earnings results on Friday, August 14th. The company reported C($0.01) earnings per share (EPS) for the quarter. Fortune Minerals had a positive return on equity of 80.32% and a negative net margin of 13,690.93%.

Fortune Minerals Company Profile

Fortune is a Canadian mining and mineral processing company focused on developing the NICO cobalt-gold-bismuth-copper project in the Northwest Territories and Alberta. Fortune also owns the satellite Sue-Dianne copper-silver-gold deposit located 25 km north of the NICO deposit and is a potential future source of incremental feed to extend the life of the NICO concentrator.